tv The Situation Room With Wolf Blitzer CNN August 9, 2011 2:00pm-4:00pm PDT
the sickening scene of violence and looting. and one party is paying a bigger price over the showdown over the regular debt. stand by on whether members deserve to even be re-elected. i'm wolf blitzer, you're in "the situation room." wall street following big gains after some of its biggest losses of the year. the s&p and nasdaq also rebounded. the dow on a roller coaster all day after the federal reserve's afternoon announcement about interest rates and future economic conditions. lit's bring in poppy harlow.
it was wild. >> swings of 600 points. some of them hundreds of points within a minute. the dow industrials in the last hour of trading, ridesing more than 300 points. this is a very good sign. it is the exact opposite of the selloff we saw on monday. it's encouraging that we're seeing investors coming in at the end of the trading day, buying up stocks in droves, saying i'm willing to hold these stocks overnight. that is a very good sign. and just to give you some indication of the amount of money we're talk about here, today overall in u.s., we saw paper gains of $700 billion. what was critical was the fed's decision at 2:15 eastern time. when that came out, we knew that central bankers were going to keep interest rates steady at an exceptionally low level of 0 to
a quarter percent. what we didn't know is what they would say. and that is they would keep the low interest rates exceptionally low until 2013, until the middle of 2013. so really for the next 24 months. here's what the fed issues. they said they expect a somewhat slower pace of recovery. they also acknowledge that the unemployment rate in this country is going to decline only gradually. and they also said the down side risks to the economy and the economic outlook have increased. they're saying the situation is worse than when they met a few months ago. something they didn't say, wolf, that we were all looking for is whether or not there would be another stimulus program for the economy. a qe3, if you will. they made no indication of that. many people say politically that's just not viable right now. that is something we didn't see. it was so interesting to watch the market today, wolf. right after the fed made their announcement, stocks fell down
60 points, then fell 200 points then bounced back in this huge late afternoon rally, wolf. >> where are we seeing people, investors put their money, poppy? >> they're putting their money in gold. it's amazing to watch gold and the converse relationship that it has with stocks. gold prices again today rising over $1,700, that record high that we hit yesterday. people believe that this hard commodity is a safety net. they're falling into gold. they're also going into bonds of emerging economies. but we are still interestingly, we didn't know if this would happen after the s&p downgrade, seeing a lot of people continuing to invest in u.s. treasuries. when you see gold, traders tell me it is not a flight to safety as people hear so much. this is a very volatile market
for gold. but we'll take this market up 429 points. wolf? >> poppy, a sunny day on wall street, that's why she decided to wear yellow. thanks very much. richard, the decision by the federal deserve to announce low interest rates through mid 2013, i assume that's the major factor in causing this rebound today? >> well, yes and no. i take a slightly different point on this, all today's rally did was return us to the status quo that we were at when we had that very sharp fall on monday and then not some. if you actually look at that statement that poppy was talking about, frankly it's quite depressing. it talks about disappointing growth levels, it talks about unemployment not coming down. the overarching view on the u.s. economy and its medium term trend is not good. so that is the scenario that
you've really got to focus on. forget the volatile of yesterday and today. there was no reason for yesterday for the market to fall out of bed. similarly, there's no reason for it to have rallied impact up again. you've got to keep your eye on the fundamentals to that exat the present time, wolf, and on that ground, i'm afraid the fed wasless than optimistic. put it another way. the fed ain't keeping interest rates low until 2013 because things are going well. they're doing it because they're seriously worried because there's a second leg downturn that's about to hit, wolf. >> you mean a double dip recession? >> well, no the that much. you don't have to go all the way down into two quarters of negative growth. you can simply be trudging through the trough of misery, slow growth, high unemployment, poor manufacturing numbers. now the low interest rates are unnecessary, but they may not be sufficient. the fed may have to do more to try to get growth going. and the statement, absolutely
knowledged that today when it talked about today. don't let's be too concerned here. let's remain on why the market rallied back to where it was and slightly under. just after 10:00 p.m. in london, 16,000 police officers are on the streets. more than twice as many as the night before. they're trying their best to prevent new clashes. the unrest spreading over the past three days. right over the heart of london and beyond. here's what londoners are saying and seeing. >> it's just a travesty.
i had no idea how it flared up so much. a full bottle of whiskey just missed her. it seriously put people's lives at risk. >> i can't believe this is happening. i'm going to give out some extreme views. this has got nothing to do with anything that happened last week. this is just opportunists break into shops and taking what they can. they're doing what they do best and that's stealing. >> obviously people are angry, frustration. everything, complaining about police and everything. >> what went on, i don't like.
they're taking away from the people who have nothing. it's not justifiable to do what they've been doing. >> people are saying actually because someone got shot by the police okay, fair enough. someone got shot by the police and that's probably unjust, but that's no reason 20 ruin people's livelihoods, burning down houses and burning down shops. that's not going to stop the police from, you know, being unjust. how much violence, the images, the picture, how much of it is just random looting? how much is related to the austerity measures, the economic distress that the people of england have been going through recently? >> it's both. no doubt the disenfranchised,
the poor, the youth who have got no jobs and those who believe that there is no future at the moment, particularly with so many cutbacks, no doubt their grievances are strong. 6 the criminality aspect of it. there are some very serious issues of os perty, -- prosperity, poverty. they have been egged on and the riots you have seen have largely been at the behest of those who would really have a fight over anything. and just to put this in perspective, i'm heading back to the uk tonight, i'm heading to london tonight, wolf, so i'll be able to talk to you more about that and take on that further tomorrow night. >> we'll check back with you tomorrow for sure.
richard, one final question. unemployment here in the united states right now nationally at 9.1%. what is it in england? >> it's lower. anywhere between 7 1/2 and 8 1/2, depending on what your definition is for unemployment. the problem is, as the austerity measures are kicking in, so the future for job growth is very low, and there are many who will actually be losing. if if the government says they're adamantly sticking to them, then we will see more job losses and poverty in the uk. >> thanks so much. we'll check in with you in london tomorrow. it's one of the most elite and important units in the united states military. now the navy s.e.a.l.s have lost 22 of their finest. a whopping 10% of that elite
>> jack scarfty is here with "the cafferty file." more than 560 people arrested in london alone after the last three nights of violence. the city's jails are full. when you look at some of these picture, it's hard to believe this is london. this is one of the great cities in the world, not some third world outback with a ragtag government. civilized. looting, fires, rioting, attacks on police, resident says it's like a war zone and there's a carnival atmosphere surrounding these gangs of hooded youth. this all started after the shootling death of a 29-year-old black man at the hands of police in london last week. the shooting is still under investigation, but it's almost
like that was the spark that ignited an explosion of anger and frustration from britain's young and unemployed. reports of kids as young as 7 years old, participating in the violence and the looting. british prime minister david cameron is recalling parliament from their vacation and vowing that tough action will be taken to stop the violence. 16,000 police officers will report for duty on streets of london tonight. critic stas ts say the cops hav missing in action but they'll be around in force this evening. there are a lot of culprits for what's going on here, including ethnic tension, the absence of law enforcement, but make no mistake, it's no coincidence that these riots are happening just as the global economy hangs off the edge of a cliff. income inequality in england, greater than any time since the 1920s, and this rioting began in one of the poorest parts in london, tottenham where
unemployment is simply devastating. here's the question, are england's riot assign of things to come here? >> thank you 37 the commander-in-chief on hand today when the remains of 30 american troops were brought back into the united states. president was joined by top pentagon officials at dover air force base in delaware. the shootdown by taliban insurgents is the greatest loss of american lives in one incident since the start of the war in afghanistan nearly a decade ago. most of dead, 262, i believe, were navy s.e.a.l.s. i know you just came back from virginia beach, virginia, where you saw family members, survi r survivor, and that community is devastated. >> it is. these were s.e.a.l.s from the bin laden raid, but none killed over the unit were part of the
bin laden raid. still, this is a small and elite group. and the death of 22 s.e.a.l.s from the same unit have a large impact on the s.e.a.l. forces. a devastating loss for families, friends and teammates. the 22 s.e.a.l.s killed in afghanistan were part of a unit that's elite, even among the s.e.a.l.s themselves. it's officially known as the naval special warfare development group at various times it's been called zech eed team 6. >> how hard is it going to be to fill the void? >> welsh it's going to be a challenge no doubt. >> zinke and other former
s.e.a.l.s tell us they're taken from the ranks of other existing zechlt a. s.e.a.l. teams. and half washout. they go on kill missions for high-value targets like osama bin laden. >> what do they do on the battlefield that's different. >> you have to identify a threat and often times, it's at a moment's notice, in an instant. you have to determine whether or not that individual is a threat or whether he's not. and if he is, you have to engage. these individuals can shoot exact aim. they make that judgment in an instant. >> according to former s.e.a.l.s, there are about 200 members of s.e.a.l. 6. that means the crash took away about 10% of the unit. i spoke with anthony sheaffer about how the team in afghanistan could be shored up. are they going to have to
shuttle guys in from other s.e.a.l. units? >> first off, they may have to degrade the mission in iraq and move more to afghanistan. the problem is things in iraq have not been as stable as people would like them to be. therefore, you're degrading that mission. the more likely scenario is they'll move one of the stand-by units and move them in ahead of schedule. >> but sheaffer and others say that carries significant risks in missions that are as dangerous as these. risks of mistakes and even possibly burnout, wolf. >> there's s.e.a.l. team 6. how many units are there? >> there's 2,500 s.e.a.l.s overa overall. even at full strength, this is a finite group of guys with a rot of stress. if they have to accelerate the deployment of now some who are in the rear coming up to the front, they could get burned out. it's a dangerous situation. >> our heart goes out to the
families, the surviving family members of these s.e.a.l.s and the other u.s. troops killed in that crash. meanwhile, new dna evidence just back in the case of a notorious mystery hijacker. after almost 40 yoears have authorities finally bound d.b. cooper? and voters are sending congress an angry message. here's the message to members of congress -- watch your backs. our stunning new poll numbers.
a new development in the case of the notorious missing hijacker, d.b. cooper. what do you have? >> the fbi says dna from the missing hijacker does not match that of a new suspect in the case. the testing was done after a woman came forward saying her uncle could be responsible. in 1971, a man calling himself dan cooper hijacked a plane when you he escaped after getting $200,000 in ransom. he was never found and his fate remains unknown. despite the failed link, authorities aren't yet ruling this suspect out. a texas jury has sentenced polygamist leader warren jeffs to life in prison for sexually assaulting children.
he considered his spiritual woo wives. judge who heads the fundmentalist church of jesus christ of ladder day saints was charged after a 2008 raise on his ranch. he argued his fate is being persecuted. and philadelphia's mayor is calling the city's stiff curfew on young people a case of tough love. the move follows a string of flash mob attacks where teenagers choose a meeting place online, then they show up and brutally assault local residents. failure to obey the curfew could result in fines up to $500. wa walgreen's says it's looking at new options to sell health insurance. other private companies are looking to do the same. >> under the new federal laws. thanks for that.
we watched as congress played a dangerous game of chick opinionopinio en. which party do americans blame the most? and "newsweek" magazine is calling michelle bachmann the, quote, queen of rage. does the cover cross the line? [ vending man ] hi there! that's not going to satisfy you. come on. it's time for a better snack. try this. it's yoplait greek. it has two times the protein of regular yogurt. you'll feel satisfied. [ female announcer ] yoplait greek. it is so good. oh, and there's a smile.
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so many voters are fuming about the high unemployment in the united states. the jobs crisis is a huge weight on president obama and his campaign for a second term. let's bring in cnn's tom foreman. he has an in depth look at jobs, presidential politics, this is going to be a huge, if not the biggest part of the campaign. >> absolutely. if you put aside the poll weers looking at and say what's behind
the polls. i think in a lot of cases, if you look at how presidents have fared when they've looked at re-election, and that's all we're looking at is re-election years, all these president, going back many decades, look at this trend that appears here. in every case where the trend is down in unemployment, re-election happens. not absolutely, but very close. eisenhower, johnson, nixon. all of these in a row. the trend was down they got re-elected. ford was not re-elected, but the rate was much higher and remember, this was the back wash of nixon. it's not quite like any other re-electioned by. carter, unemployment went up, he was not re-elected. reagan, unemployment back down, re-elected. even though the number is high compared to what you saw right here. unemployment up for george bush, not re-elected. down for clinton, re-elected. down for bush, re-elected. so what happens now to president
obama as he faces all of this. and look at this trend. you've seen this from all along. this is what happened he came into office. here's the point where he went into office. you know what happened after that, right? up more. and here's the problem. it got up here to the 9%, 10% level and it has stayed there. a little bit up, a little bit down, but by and large, nothing has changed. that might be something that is going to really haunt him. if you look at another president who had big numbers like this, ronald reagan came into office and look what happened with his unemployment, way up. to 11%. but then look what happened. down, down, down, and the trend went a different way. so it's not so much the absolute number as the trend line that seems 20 bother voters when you look at that. can he find a way through? by targeting certain state where is he has some difficulties and taking advantage of them? maybe.
but here are key states. florida, ohio, iowa, nevada, all with red arrows going up. it's down in minnesota, but minnesota, which is also a key state wasn't that bad to begin with. but look at michigan. it's down there, down to 10.5%, still above the national average. and down from twha? -- what? >> down from 11.3%. add up all these number, wolf, and this may tell you an awful lot about what's behind the polls and why president obama has to keep looking at the unemployment rate because it's almost a sure preduck tor of whether or not a president can be re-elected. >> issue number one, jobs, jobs, jobs. after a week of bitter fighting over the debt ceiling crisis, americans are making their voices heard and lawmakers might not want to hear what voters have to say. we have some surprising poll numbers. what are you seeing here? >> wolf, a little bit more than one year to go from next
november's election, and it's really starting to look like the public is in a foul mood when it comes to the congress. >> incumbents watch your backs. the voters are angry. the most stunning number in our new cnn orc poll is the percentage of people who say their member of congress deserves re-election, only 41%. 49% said their member of congress does not deserve reelection. thgs the worst results in two decades for incumbents. so why are people so angry now? this man said he got fed up with the congress in the uproar and confusion over the debt ceiling. >> it goes way, way, way back. they should have solved this a long time ago. it's not the debt ceiling. it's the debt. i mean, if you lived like they live, like they have this
country lived they would throw us out of our house. they would cut your electric off. you have to pay your bills. it's that simple. >> and which party are the people maddest at? the poll shows support for republicans in congress has plummeted. john boehner's favorability rating dropped 10%. mitch mcconnell's favorability rating dropped 7%. favorable views of the republican party as a whole have dropped eight points since july to just 33% and 51% of respondents had an unfavorable view of the tea party movement. student rebecca barrow. >> it's like they're not getting it, you know? i think there's extremes on both sides. >> views of democrats in congress seem to be holding steady at 47%. views of harry reid and nancy pelosi remain unchanged though respondents of our poll aren't exactly fawning over either party right now.
judy sides with democrats but it's congress that frustrates her. >> it's realry sad that our congress is overlooking the needs of the middle class, the disabled, the seniors. i'm going to be a senior soon. and they're talking about reducing what i get. and i need help. i really do. and i feel like there's a disintere disinterest. >> anti-incumbent sentiment is so strong most americans aren't willing to give their own representative a the benefit of the doubt. >> a wlot of people say when you like congress, yo can you don't like congress, they don't like congress, but they like their own member of congress. now they're beginning to say i don't like my own member of congress either. >> right. it's pretty stunning actually. i mean, i've never seen anything like that. everybody likes their member of
congress. it's always the other guys. not right now. >> there's controversy brewing over a "newsweek" magazine cover story on republican presidential candidate michele bachmann. the to the toes that didn't make the cut as well. and our own dr. sanjay gupta on the frontlines of famine in africa. he's with some of the most heart breaking and desperate victims of the crisis -- children. every day, all around the world, energy is being produced to power our lives. while energy developement comes with some risk, north america's natural gas producers are committed to safely and responsibly providing decades of cleaner burning energy for our country, drilling thousands of feet below fresh water sources within self contained well systems and using state of the art monitoring technologies, rigorous practices help ensure our operations are safe and clean for our communities and the environment
of now to the devastating drought and famine in east africa where the world food program is accelerating efforts to try to get aid to the millions of people struggling to survive. our chief medical kofrs is at the world's largest refugee camp in kenya with some of the youngest victims. sanjay, tell our viewers in the united states and around the world what you're seeing. >> well, you know, some of the youngest victims are also some of the most resilient victims as well, wolf. the question does remain, how do
you take care of so many people. 400,000 people in a space designed to really hold 90,000 people. how do you feed them, clothe them, how do you provide them medical care? >> vulnerable children, thick with misery. >> there you can tell right away, when you see a little baby over here, you can take a look here, the's so sunken in. that's what happens when a baby has had no food, no water. so dehydrated. >> basic, basic necessities, so hard to come by. dust and starvation nearly everywhere you look. >> this is also what happens when you're at the world's largest ref camp.
one doctor over here. as you look at these images, consider this simple fact -- these are the lucky ones. lucky because they made it here at all. this family of five made it out of somalia just yesterday. came out here into the middle of a desert to give you a idea of what this family went through. nay primarily walked at night because it was cooler, carrying those three kids, sometimes carrying a kid, going back and getting another kid and doing this over and over again in the desert. 30 nights worth. they cross the border then they get robbed. bandits take what little possessions they actually have. but the bandits didn't take this father's dream and his drive to keep his kids alive. it's not going to be easy. >> this is another thing you see here quite a bit.
mohammad is 3 months old. looking very listless. but look at his breathing specifically. he's breathing with his abdomen, not with his chest. he also has whooping cough because he was never vaccinateded. he will need a hospital, oxygen, antibiotics and yes, food and water. all of it may come too late. so painful to realize that every single one of his ailments could have been prevented. unfortunately, though, that hardly ever happens in the most desperate places on earth. >> i can tell you there are some bright spots. they seem to be getting more resources and more aid. and there's more structure to this camp as well. the real key as far as taking care of so many of these people is to try to get some of these
resources into somalia, directly to where people need it so they don't have to make these incredibly long arduous journeys. 30 days, 30 nights as you heard there for that one family, wolf. >> are these hundreds of thousands of people in this refugee camp simply going to stay there for the foreseeable future. is there any hope at all they could ever go back home? >> there have been refugees that lived in those camps for 20 years. to answer your question, i don't know about these most recent people who came over the border in somalia. there's a history of people really having no future back in somalia. they just simply stay here for a very long time, wolf. >> seeing now with some other
stories you've covered for us. >> when you cover the natural disaster, after the flooding in pakistan. there's still a sense, although it may be some time, there's a sense that thinl things are eventually going to get better. here for the reasons i mentioned, there's a chronic upon acute, upon chronic problem. even before this most recent drought, the worst drought in 60 year, this camp already had several hundred thousand people in, or 300,000 people in it. you see the problem has been long standing and there really haven't been great solutions offered. so at some point, wolf, you hope this is going to be the one that's going to inspire some sort of longer term solution. who knows. but i think that's what everyone is sort of praying for, wolf. >> yeah, we're praying together. thanks, sanjay. we'll check back to you. and an important note to our viewers. you can catch more on "anderson cooper 360 at its new time, 8:00 p.m. eastern. ac 360" will be live from
somalia tonight only on cnn, 8:00 p.m. eastern. also to find out more about how you can help the victims of this crisis, you can go to cnn.com/impact. you'll have a chance to impact your world. president obama personally honoring the navy seals and the other u.s. troops killed over the weekend in afghanistan. the somber details of that ceremony just ahead. and new jut rage outrage over t of republican presidential candidate michele bachmann. introducing the schwab mobile app.
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with a dramatic new ad hammering president obama on the debt crisis. listen to this. >> i've got to say, i'm very amused when i start hearing comments about, well, the president needs to show more leadership on this. let me tell you something, i've been here. >> most people do not sit around their kitchen table and don't analyze unemployment numbers. >> i will be held accountable. if i don't have this done in three years, then this will be a one-term proposition. leaders are going to lead. >> just 18,000 jobs, well below expectations. >> we're moving in the right direction. >> the unemployment rate -- >> there are always going to be bumps. >> shovel ready was not as shovel ready as we expected. >> the stock market has come roaring back. >> barack obama has been so invisible. >> is there a risk that the united states could lose its aaa credit rating, yes or no? >> no risk of that. >> the united states has just lost its aaa credit rating.
>> are you fired up? >> let's talk about this ad and more. joining us, two cnn political contributors, james carville and the republican strategist, alex? i suspect that everybody over there is running it, but it's certainly a legitimate ad for opposition can't wait to run. i expect the democrats to run something like that and bush were up for reelection and i didn't see anything as out of bounds. >> tim pawlenty has to do well. >> i think it will help him. it's the best ad, i have seen.
the last was about hope and change. this is about strength and certainty. the world is spring out of control. this ad is not just about experience and getting things done. >> he will do good with the final before school. >> nothing about tim pawlenty, but how much we don't like obama which is the people in that poll. none ever them like obama. it may work. i'm skeptical, but i don't think it's out of bounds. >> i made a few of these ads over the years, there is a lot about tim paw lenty in there. he is not the guy in the white house. you define yourself by what you
are. that whole ad is about what tim pawlenty is not. >> if you saw the caption at the end and experience matters. that's a swipe at his republican challengers as well, including michelle bachman, executive experience matters, right? >> these trying to draw a bright line there and the smarter strategy for him is forget the other candidates and post up against the champ. >> you want to respond to that? >> yeah. i'm not going to get into it, but he would beat obama and he is not running. he is running against bachman. look, we will know soon enough. i generally think that has to be about the person running it. if he was running against obama,
the spot might be more effective. it's not a huge disagreement that we have. >> look at the picture of michelle bachman. the headline the queen of rage. a lot of folks say that photo is not very flattering. he is looking up and not looking straight. is that cover fair or not fair? >> i think when the national organization for women and the "new york times" defend michelle bachman, you know somebody has gone too far. the businesses are falling apart these days and they are struggling for eyeballs. they overreached a little bit. look how gracefully she handled this. she has a bit of margaret thatcher in here and ignoring this and focusing on the issues gracefully done. at the end of the day, this is not so much an issue about feminism. you wouldn't have done this if
she was a guy. this is about elitism. there was a group of people in washington and new york who think the people that cling bitterly to guns and religion and have ideas like balancing the budget, they are unenlightened and they are laughing at the old. >> i wouldn't say to the republican primitive, i would call it a foreign idea. more than anybody. i looked at that. >> that's not true actually. >> 15 minutes and maybe somebody else seeing something and i don't need to defend news week, but she looked already to me. i didn't see it as any kind of a texas thing. it was a photo and it looks -- she's an attractive woman. i didn't see it. maybe others do. i tried to find it, but i couldn't. >> ask mary what she thinks and get back to me. appreciate it very much. as always. anger over a government shut down. today lawmakers may pay the
price in an election that may have large national implications. we will update ow that. a 10-year-old boy who is pleading with the world to not forget his dad lost in the chopper shoot down in afghanistan. ♪ the race of your life you never ran. the trip around the world you never took. the best-selling novel you never wrote. but there's one opportunity that's too good to miss. the lexus golden opportunity sales event, with exceptional values on the lexus es. but only until september 6th. see your lexus dealer.
>> let's go back to jack for the cafferty file. england's riots a sign of things to come here? dave in orlando writes what surprises me is we haven't had any yet. sleazy people in congress, lazy people in the white house and crazy people in the supreme court. they precipitated disparity beyond measure. a tiny number of people who will never have a worry or want in the world and enormous number of people whose world is nothing but worry and hardship. if our com placency is metastasized, we are terminal. jeremy writes while the same problems might exist, the u.s. is too vast and the police in the united states would put this down in a day. there is a sad under class mentality where everything is everyone else's fault. this is where the united states stands head and shoulders above places like that. no chance this could happen in the u.s. oh, yeah?
>> jennifer writes it's amazing to find out how protesters turn into rioters in the media. people have not made the connection between unemployed youth and what happened in syria and libya. the youth here are unemployed too and all it might take is say spark. clifton writes yes, america is headed down the path to civil disorder and if people don't get jobs soon. wake up, people. we lost our aaa credit rating and that's only the beginning. 46 million people on food stamps is not a joke. john writes jack, have you forgotten the civil rights days. thank you, john. curtis in philadelphia, excuse me, jack, but this is america. as long as i can cape television and access to fast food restaurants that i can drive through using the cheapest gas and cheap stuff at wal-mart and 100 guns and access free porn on
the internet, why would i want to riot? that takes energy. you want to are the more, go to my blog or to the post on the situation room's facebook page. >> thank you. and you're in "the situation room." the troop who is died when a helicopter was shot down in afghanistan. president obama and the pentagon is on hand to pay respects. another crazy ride on wall street. the roller coasterens with an upswing as the federal reserve steps in to keep rates down. and london under siege. 16,000 police on the streets in a desperate bid to put an end to the nightly riots, looting and burning. we want to welcome our viewers in the united states and around the world. breaking news and read lines are straight hate. i'm wolf blitzer and you are in
"the situation room". 30 fallen troops were brought home from afghanistan. they ascend the transfer at dover air force base in delaware. americans and eight afghans were killed when a helicopter was shot down over the weekend. the worst loss of life for americans since the start of the war nearly a decade ago. let's begin with the white house correspondekocorrespondent correspondent. >> this is the tough job of the president. one moment celebrating navy cells able to kill win win and next navy cells and other military personnel who lost their lives. the president landing in dover after 12:00 this afternoon according to a white house official, he boarded two c 17 aircrafts under tarmac and other officials also on the aircraft. the president paying his
respects to the remains and in addition there was a chaplain on those plain who is offered prayers. the president met for about 70 minutes with family members and friends of the fallen. we did not get to witness any of this. this was done away from the public eye. we did not hear from the president. yesterday as the president was wrapping up remarks on the economy, he did talk about the soldiers who were kill and talked about courage and sacrifice. it's time to reflect on the sacrifice of the families. they put their lives on the lines for the nation. >> wolf, as you know president obama spoke over the weekend with ha miss karzai. they reaffirmed their commitment
to the mission there. that commitment being getting a stable government and making sure that they are able to handle their own security. of course also making sure that afghanistan does not become a haven for terrorists. >> are the white house officials saying this incident and a tragic loss of livville no impact on the course of the mission in afghanistan? it is continuing as early as scheduled? >> that are has been the word from the white house saying any time you have reports of these kinds of things happening where soldiers are killed on the frontlines and it's not altering the president's timeline in terms of moving troops out and they know they are signing up, it's a tragedy, but it remains the same. >> emerging from the devastating loss, a young boy who contacted
cnn to speak up for his father, a fallen soldier. >> a 10-year-old boy has been watching the tributes to the navy s.e.a.l. who is died. justified tributes certainly, but he told the world don't forget about my dad. we have pictures. a few years ago with his father and he was an army chief warrant officer and not a seal. his mother said he was so expected that he was like a little version of his dad. aftery seeing the tributes to the seals, he said he asked her why they weren't showing his dad's picture. his mom said others had gone online and posted photos.
braden did that. they pulled up to cnn.com and went to the ireport section and here is what braden wrote. my father was one of the 30 u.s. soldiers killed in afghanistan yesterday with the seals rescue mission. he was the pilot of the chinook. i have seen other pictures of the victims and wish you would include a picture of my father. he is the farthest to the left. we have the photo here. this is the one braden posted with his dad, farthest left. >> this ireport from the 10-year-old boy has gone viral. >> within hours, local stations reported on him doing this and more than 10,000 people on facebook reposted his message and the photos. all over twitter and the ireport nj you can post comments and be
strong and we are sorry for your loss. this gets to you. it brings it home. >> our deepest condolences to braden and his mom for posting that report. members of one of america's elite fighting units were killed when the giant helicopter went down and a military inquiry and the other u.s. troops on board were doing there & why. we are digging into this part of the story for you. what are you learning? >> what we have learned today is the navy seals were not on a rescue mission as we were throat believe. the 22 commandos killed when the helicopter was shot down and one time one the usual secret assault missions.
they were called in to take a group on the run. army rangers on the ground were looking for a taliban leader. the rangers didn't need rescuing, they called for back up. that's contrary to what military sources said after the crash when they suggested the seals were helping to pin down troops. it's why many seals were on a single vulnerable helicopter. >> they're exposed the force to enemy fire. the one lucky one from a tal pan ber expect civ what happened. >> they will look at whether troops could have been sent. the shoot down is raising questions about troops returning to these remote mountains they left months ago. insurgents set up strongholds especially here in prot vince where the shoot downs happened. >> many were held by nato
forces, but because we have concentrated on popular areas now, they have been given over to the taliban. >> the pentagon doesn't think they knew the helicopter was carrying seals from the same unit that killed osama bin laden. they asked leon panetta to ban the release of the dead men even though many families have identified their loved ones. the worry? the names might lead to their buddies on the bin laden team. >> now, wolf, let's go back to the 10-year-old boy who would the world to remember his father. he is in the hot seat. the community does not want to release the name of the fallen. so many families have already come forward and publicly want their loved ones remembered.
he had to make a decision. does he go with what the community wants or does he stick with the tradition. the pentagon has never in 10 years of war failed to publicly acknowledge the names of anyone who had fallen in battle. >> how can you control the family member who is want to express their grief? the pentagon can't say you have to remain silent. >> this is right. the modern worlds of communication. facebook and families come forward of their own free will. they speak out and offer the photos as this young boy did. so many military families want to speak out when their loved ones fall in battle. many families don't. they want to keep it private. that's their prerogative. the key issue is here the pentagon for 10 years publicly puts out a statement of the name
and the unit of everyone who has fallen in battle. if leon panetta decides to break the chain, it will be news worthy. >> it will be. thanks very much. a day after the bottom dropped out on wall street, they climb back on the roller coaster and went for a wild ride. it was a gut wrenching ride, but the dow was up 429 points or 4%. the s&p 500 and the nasdaq were up 5%. fueling the final rally in and an announcement from the natural reserve saying slower than expected roads will force it to keep interest rates in their words exceptionally low for the next two years. lisa sylvester will join us later this hour with more on the markets and what's the fed's decision means for you. >> this just coming in. senate democratic majority
leader will r point max balk us and patty murray to the super committee of 12 members to come up with initial cuts to deal with the nationy deficit. senator murray will serve as the cochair of the committee. john boehner will appoint the other. there will be 12 members of the panel. 6 from the house and sis six from the pennate. now we know the first of three members. these will be the three democratic senators who will participate in the 12-member panel. more on the story coming up later as well. frustration mounting in britain. violent riots continuing on the streets of london. the crew was caught in the middle and we will show you what happened. getting a firsthand look at famine. anderson cooper travels to one of the most dangerous and desperate places on earth. somalia. he is there and we will be speaking with him live at this
[ martin luther king jr. ] i still have a dream that one day on the red hills of georgia, the sons of former slaves and the sons of former slave owners will be able to sit down together at the table of brotherhood. i have a dream today! [ male announcer ] chevrolet is honored to celebrate the unveiling of the washington, d.c., martin luther king jr. memorial. take your seat at the table on august 28th. i could not make working and going to school work. it was not until the university of phoenix that i was able to work full-time, be a mom, and go to school. the opportunits that i had at the university of phoenix, dealing wh profesonals teaching things that they were doing every day, got me to where i am today. i'm mayor cherie wood, i'm responsible for the largest urban renewal project in utah, and i am a phoenix. [ male announcer ] find your program at phoenix.edu.
texas governor perry expected to strongly signal intention to run for president in a speech in south carolina on saturday. perry's announcement is timed perfectly to upset the poll and aims which is also on saturday. although perry's name is not on the ballot in iowa, supporters are waging a write in campaign. after the speech in south carolina, perry is off to new hampshire and iowa to headline a fund-raiser.
the tea party favorite has an appeal among conservatives looking for more options and what is arguably a sad republican field. that's working in perry's favorite. the texas economy is doing better than most. i didn't know this. almost 40% of all the new jobs created in theus since the recession started are in texas. the state has a balanced budget. haven't we been here and done this? we lived through years of a christian evangelical governor and still in therapy from that experiment. this past weekend, perry addressed believers at a prayer vigil in houston. perry asked got to comfort americans stung by the troubled economy. he did all this in a stadium that was less than half full. what about that separation of church and state thing. here's the question. is another religious
conservative republican governor from texas the answer to our rares? pun intended. go to cnn.com/cafferty file. post a comment on my blog. >> he is going to south carolina, new hampshire and iowa, enough said about his intentions. i tweeted that earlier in the day. good question. thank you. other news, 16,000 police are on the streets of london tonight as prime minister cameron vows to quell the i have on thing that has shaken britain's capital. the violence was triggered by a fatal shooting in a police stop and the first riot-related death has been reported. a man was found dead in south london with a gunshot wound to the head. night after night there have been scenes of burping vehicles smashed and storefronts and clashes between police and groups. dan rivers has been in the middle of the vit lens.
>> as it continued with immunity in london for the first time, they used these trucks to clear roads in a number of areas. this was south london. this is who they were up against. gangs of masked criminal who is had taken over the streets. they can see the police are running down in the center trying to reestablish order, but it's a scary atmosphere. huge gangs of kids on the streets. many of them hooded and you see there is a large amount of damage here. we are going to get out of the way. in the middle of herified young families trying to get home. this was high street normally choked with traffic. now overwhelmed with rioters who looted dozens of shops. as night fell, the gangs were
more brazen. nose to nose with the police. >> the situation is complete anarchy here. there is no sense of anyone intervening to stop this. perhaps intervening with the situation worse or they haven't gotten the numbers. the super market that is being completely emptied. we are going to have to move. up. this was west london. cars left to burn in sleepy streets. almost every shop was smashed. the economic cost as well as the social damage clear to see. this shopping area remained volatile hours after the first windows were hit. this was down a head street after a gang mashed the windows
and stormed aboard and set it alight. >> tfrs scait was scary. i was shocked. i was shocked. >> few of the gangs would talk, but this man said he wasn't involved in the violence and did gree pe agree to speak. people want money in it. >> much of what happened seems to be mindless vandalism. now everyone in the uk is wondering how and if the government can regain control of the streets. >> and again, joining us live on the phone right now, dan, what are the experts saying that this is just random violence and a bunch thugs doing this because they can get free suf out of soernlg or if the result of the
measures and the severe economic crisis that england and the other countries are going through right now? >> it's difficult to call, but i just don't have the idea that this is all about austerity measures. this is almost exclusively copycat violence and looting because people somehow feel that the police yesterday and over the last 24 hours have completely failed to react and failed to clamp down on this. this is emboldened these kids and they suddenly feel they lost their fear of the police dpleetly. the situation is changed since we filed that report. we have been on the supremes again and it's a lot calmer. the police flood 16,000 across the streets. there have been clashes where we were.
bottles and sdoens and things being thrown at the police, but nothing like the scale of the violence that we saw over the last 24 hours. no buildings set on fire as we saw. as we speak though, there reports in manchester of disturbances. that's the city in the northwest. there may be a picture emerging that the police have brought in officers from all over britain and flood london with the police. the problem is now shifted to other cities like manchester. >> the police are not looking all that good over the past few days in england and london and elsewhere. is it the lack of experience and lack of leadership? what is the basic problem? >> they had a torid time this summer. they lost the most senior policemen in britain and one of his deputies as well. there is a slight sense of nobody being really at the top.
one of the senior officers has stepped in temporarily, but there is -- it has been a really torid time for the police this summer and perhaps this multidimensional prices. it has been so dynamic and really came out of nowhere. no one predicted that this would spread in the way it did or anyone spot the violence as widespread and protracted as it has been. it took everyone by surprise. thank goodness it seems like the police have got a grip on things again. there will be a lot of fundamental questions about how they operated over the last couple of days and whether they really dropped the ball and were just far too timid in stopping this and a local disbeaut in a
small pocket of london and suddenly it exploded. parrot scene for us at london. we will stay in touch with you. thank you very much. it's no skred that the federal reserve's cool bus were fixing the problems. it's almost empty. they took the extraordinary step of promising stuff that many people were hoping for. remember these angry protesters in wisconsin? it's act two in a drama that 95 etted the nation. lots of news happening here in the situation roochl woman: day care can be expensive.
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the major stock index. today, they dusted themselves off and clawed their way back up. it wasn't pretty, but investors will take it. a 4% gain for the dow. the s&p 500. they got a boost from the federal reserve here in washington that made the announcement that affected just about all americans going forward. lisa sylvester is here working the story. a lot better today. >> much better today. the markets were very happy. the dow jones is up 429 points. what a difference a day makes. the federal reserve or committee met and announced they will keep the funds rate at 0 to.25%. they made that decision saying economic growth has been considerably slower than the committee expected. the economy has been puttering along. the economic growth was a measly
1.3%. the federal reserve acknowledged spending is down. the housing sector still taking a beating and things are not looking good on the job front. investors have been working to work the magic and get the economy moving. the federal reserve gave the markets a gift, pledging to keep interest rates near zero at least through mid 2013. >> they are speak to the markets. they are telling banks and bond holders and bond investors that they can count on ultra low interest rates for at least 24 more months. that's a pretty major statement, i think. >> that are means low cost to borrow for a house or a car or to take out a loge loan. until now they only said they would keep about rates low for an extended president without
spelling out how long it was, but the central bank did not commit new funds that would pump money back into the economy to kick start growth. something investors were hope for. the fed is trying to steer the economy away from dipping into a second recession. some point out the pools are limited. >> they don't have that many bullets left. it can't lower interest rates much and couldn't buy more assets, but not clear it would make much difference. >> for couldn't go lower so it gave the next best thing. to keep it going longer. investors saw it as good news and they responded. one interesting thing is 12 members of this federal reserve that sets monetary policy. three of the members voted against the action worried about inflationary pressure. they went against the chairman on this one and that is a pretty rare thing to see. >> three out of the 12
dissenting on this. when bernanke speaks, he has power and influence. merely by uttering the words, you saw what happened. >> he has the other members with him and they saw this was something needed for the economy to jump sart. until mid 2013, we can expect lower interest rates. >> you are right. three votes is a lot. >> more fallout from the sbruzing battle over a bargaining law in wisconsin. voters are casting battles that could allow democrat to seize power in the state senate. the vote is a rev cent um on the republican governor and he has enormous ramifications as well. let's go to the capital. ted is standing by with more. sed, set the scene for us. >> well, wolf, the folks are the only ones doing the voting. absolutely you got it right in that this is not just a local
election. people around the country are watching this very, very closely. when thousands of demonstrates on are filled the capital last february, organizers vowed there would be a recall. today in districts across the state, six senate republicans are fighting for jobs. it's not just a wisconsin fight, but the war over unions. scott walker's budget law limits the power of employee unions. >> school districts and local governments across the state in the last month or so have been talking about using the reforms. they are empowered to have because of the action. >> more than $25 million has been spent on the election, most from out of state. uw madison science professor charles franklin said there two reason yes republicans want to destabilize unions.
one is the way unions and state workers affect budgets. the other is how unions support the democratic party both monarily and through campaign voluntee volunteers. to take control of the senate, they need three steets. if they do, they could stop further republican backed legislation from getting through. walker is not eligible until after his first year in office. >> for the democrats pick up three or four or less likely five seats, that will energize the sources that want to recall governor walker next year. any f they fall short, it's an open question if they will see as worth pursuing or not. wolf, absolutely at the center of this is states around the country are looking to see how this plays out. other states thinking about trying to do the same thing that the wisconsin legislators did.
the governor did. unions trying to send a message. you better not or you may lose your job. polls close at 8:00 and we are told that voter turn out is extremely heavy. four out of the six races are toss ups. we may not know the result right away. that's because of the heavy voting. >> we will stay in close touch with you. on the scene in a country reeling from famine, anderson cooper is in somalia where thousands are in des trait search for food. we will talk to anderson shortly and make way for rick perry, the texas governor heads for stops on the campaign trail. look for him to make big news. jeannie moos follows the ups and downs of a roller coaster stock market. buckle your seatbelts. what's pul from we who believe we know just how you feel.
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capital's city was ruled by the terrorist group from 2006 until last weekend when the terrorists withdrew. now they are crowded with somalis fleeing with what rav knowledged their country. right now he is joining us live. anderson, what's going on? give us a sense of what you are seeing there. >> well, wolf, the situation here you have more than 100,000 people according to official who is have come to the city in the last month or two looking for shelter and food. you see these camps, these idp camps and displaced people opposed to the helps of thousands of people and the nearly 500,000 people who fled into neighboring kenya. 100,000 fled into ethiopia. you have more than 100,000 people who have come into a city that is crowd and which is as
you said has been seeing battles for years now. between that which controlled a good chunk of the city to the northeast and to the here in the southwest which has been controlled by the transitional government, but really by an african union force of peace keepers. as you know, they left the city unexpectedly last friday. they are no longer in the city en masse. there have been snipers and it's a dangerous place. for the first time, you have union peace keepers who are able it go anywhere in the city and they are trying to secure the city as much as they can. they are very much under manned. 9,000 of them. this is a city of two million people. very fluid situation. a bright spot in the fact that they have left and the african peace keepers are hoping this is
an opportunity to get them under a semblance of control and moving in the right direction. >> this is not the first time you have been there. you covered this story before. compare and contrast what you saw years ago and what you are seeing now. >> i think all americans probably remember motion when u.s. troops came here as part of operation restore hope. a mission that ended up being a hunt for a war lord. it ultimately let to the deaths of more than 40 americans overall in the operation and not just in black hawk down, the operation that went wrong. the city in many ways seems the same. it seemed destroyed 20 years ago. it's more destroyed now if that's possible. there is not a street you can go down that doesn't have signs of complete destruction. bullet and mortal holes. there is no functioning
government here for 20 years. it's extraordinary. no one that there is any other places on the planet. because of the kidnappings and the institution and the laws they control. they are still in control now in southern somalia where the greatest part of the famine is. they contributed to the famine. it's not just the worst drought in 60 years, but it's the fact that they have pushed out health care workers and pushed out foreign 88 workers and stopped allowing children to be innoculated and vaccinated. children are dying of diseases and of cholera and malaria. of measles and of things which they could be vaccinated against. >> which have you received since you arrived?
the people are wary of outsiders who are coming in. it's a clan-based society. this is not a city you go walking around in. it's dangerous and they are a common thing here. we have been walking around in armored vehicles. not like the troops go out on foot patrols. they are moving quickly. armored vehicles to predetermined spots. it's a very tricky situation and it's a really surreal place. it was strange 20 years ago to see a city that had been destroyed after a year or so of war. it is 20 years of fighting and i don't think you can find a city like this anywhere in the world. >> thanks very much and good luck and be careful.
we will check back with you. here's how you can make a difference. go to our impact your world page at cnn.com. you can see a lot more of anderson's respecting and less than 90 minutes from now. tune in for an "ac 360" special edition. anderson's new time, 8:00 p.m. eastern. later tonight only here on cnn. many republicans think rick perry is heaven-sent, but is he interested in wrangling away from the democrats? that's coming up. bl
>> rick perry, the texas governor plans to announce intentions to run for the united states this weekend. jim acosta is looking at the story for us. he is going to places that give a significant hint of what his intentions are. >> as you tweeted earlier, iowa, new hampshire and south carolina sums it up. he may not get the most votes this saturday, but rick perry might steal the show this weekend. >> a gop allows them to make
their picks for period might get up staged by a texas two-step. rick perry is bypassing the poll and instead flying to south carolina and new hampshire. the kind of moves that point to a run for 2012. >> they are going to have to talk about here are the results of the iowa poll. here's the candidates. i think strategically it's a great move. >> president obama who leads an action committee when and has volunteers on the ground said the governor fills a texas-sized void. >> this is a field that we feel like there is something missing. >> to make up for the absence, perry has been calling activists who told cnn the signal is clear. >> it is very nice to get a chance to meet me and a lot of others and wanted to know if there is still room for a full
throttle unbridaled conserve testify come into the race. >> the rest of the field has taken notice. the front-runner took a vailed swipe. it was surprising and he had me as the only candidate who in texas could beat president obama. >> perry is gaining in the latest polls. >> our heart breaks for america. >> coming up on his widely watched prayer eachbtee could reunite with republicans. >> what if we had a candidate with real jobs. >> half of the jobs created in the u.s. since june 2009 were in texas. perry's record is not perfect. the unemployment rate was higher than all of the bordering states. then there is the take on new york's group to legalize gay marriage.
one day saying it's an issue. >> that's new york and that's their business and fine with me. >> reversing himself days later. rick santorum pounced. >> iowa won't miss rick perry entirely. on sunday the texas governor is headed to the city of waterloo that happening to be the town of michelle bachman. >> thanks very much. we will see what happens this weekend. keeping track on wall street and that is coming up this hour. being your average bears...
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let's get back to jack for "the cafferty file." jack? >> the question this hour, is another religious conservative republican governor from texas the answer to our prayers? pun intended. rick perry's expected to announce saturday in south carolina that he's going to make a run for president. chris in buffalo, new york, no, jack. i think another unknown, inexperienced economically ignorant community organizer from chicago is the answer to our prayers, i mean, the first one's working out so well, isn't it? craig in washington writes, no, but there is a texas candidate that can at least get the ball rolling in the right direction and his name is ron paul. whenever people vote for there is no silver bullet in this and
we all need to get over it. it took a team effort for us to screw this country up, and nothing short of continuing our founders' revolution will get us back to decency. even texas writes, did god tell perry to run for the presidency like the last conservative texan said? if so and perry gets in office, don't expect any difference between the two. i'm hoping god uses her sense of humor to derail the latest rhinestone cowboy's efforts to screw up the presidency like the other one did. dave writes, absolutely not. if you want to know why, just look at the middle eastern muslim countries where their religion and their government have become one in the same. jeff in georgia writes, mr. cafferty, if my only other choice is a secular liberal democrat empty suit from illinois, hawaii, kenya, indonesia, then the choice is clear, perry 2012. richard writes, absolutely not. i'm sick of these phony baloneys, these people ought to have to take a test before they
can run for president. did you see rick perry's grade transcript from texas a&m? a pretty boy he was. and nan from facebook, perry prayed for rain, we didn't get a drop. he prayed for the economy on saturday in houston. the dow dropped 600 points on monday. maybe a higher power's trying to tell us something. if you want to read more on this, you can go to the blog cnn.com/caffertyfi cnn.com/caffertyfile, or and we're starting to get more posts on facebook, you can go to "the situation room's" facebook page and read comments there as well. that's it, wolf. see you tomorrow. >> good work, jack, see you tomorrow. well, watching wall street is not for the faint of heart. jeanne moos is next. that one day on the red hills of georgia, the sons of former slaves and the sons of former slave owners will be able to sit down together at the table of brotherhood. i have a dream today!
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personal pricing now on brakes. tell us what you want to pay. we do our best to make that work. deal! my money. my choice. my meineke. we watched stocks get killed and rise from the dead. jeanne moos said it's enough to drive us to distraction. >> reporter: better check your wallet, you may feel poorer as the dow went down, down, downer. but hold on, on tuesday, the roller coaster headed back up. a rough ride for the parody e*trade baby created by college humor. >> god, just dropped 400 points.
this is not happening, dear lod! >> reporter: and though the market rallied tuesday, it's hard not to panic. >> sell, sell, sell, sell! >> reporter: the whole world seems out of control. >> mar market hey hem. >> london is burning. >> rioting, arson, looting. >> famine in east africa. >> panic mode. >> reporter: you want to crawl back under the covers. and even when the market goes back up and it's good news, they give it a bad name. >> could this be what they call "a rip your face off" rally. >> reporter: it does not involve jim carrey. it's a market advance with extreme intensity, so much so that it takes facial hair and skin with it. and speaking of faces, trader body language inspired a bo website. they like to coin names when the market tanks. >> obama-geddon, we have witnessed since friday. >> reporter: cnbc's jim cramer had his own name for a market
caught up in emotion. >> i'm calling it a bee gees market, because it's emotion that has taken over. ♪ it's just emotion that's taken me over ♪ >> reporter: talk about emotion taking over, blurry photos circulated on twitter showing a plane buzzing the offices of standard & poor's, towing a banner reading "thanks for the downgrade, you should all be fired." "fortune" magazine reports it was paid for by an angry midwestern broker. >> wall street spending and another day in another day of freak-out mode. >> reporter: even keyed comedians took cover from the carnage. >> i'm looking for my hobo satchel. just remember, folks -- ! just remember over the long term stocks always increase in value. >> reporter: hey, everybody's chicken. when the market goes down over 600 points one day and up over 400 the next, even